India's Core Industries Performance | 01 Feb 2024

The combined Index of Eight Core Industries (ICI) in India exhibited a provisional growth of 3.8% in December 2023 compared to 2022. Except crude oil, all other sectors have majorly performed well.

• The ICI serves as a crucial metric, encompassing Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products, and Steel, collectively constituting 40.27% of the Index of Industrial Production (IIP).
• IIP is a prime indicator of economic development for the measurement of trends in the behaviour of Industrial Production over a period of time with reference to a chosen base year.
  • Current base year for the IIP in India is 2011-12.

Read more: Index of Industrial Production